New Delhi, July 24: Subsequent to the announcement of Industrial Policy by Government of India in 1991, most industries are now delicensed except for four sectors, cigars and cigarettes of tobacco and manufactured tobacco substitutes, electronic aerospace and defence equipment, industrial explosives including detonating fuses, safety fuses, gun powder, nitrocellulose and matches and hazardous chemicals. In all other sectors entrepreneurs are free to setup industry in any part of the country.
There are no specific schemes to promote the plywood industry. However, the Department for Promotion of Industry and Internal Trade under Ministry of Commerce and Industry has notified North East Industrial Development Scheme (NEIDS), 2017.
This scheme is meant for granting incentives to new industrial units established in North–East States which also includes plywood industry. Industrial Development Scheme (IDS) also exits for Himalayan States namely Jammu and Kashmir, Himachal Pradesh and Uttarakhand.
Under the scheme incentives are provided to all eligible new and existing units and for their substantial expansion located anywhere in Himalayan states.
Good and Services Tax (GST) on plywood has already been reduced from 28% to 18% in November, 2017 on the recommendation of GST Council for promoting the industry.This information was given by the Union Minister of Commerce and Industry, PiyushGoyal, in a written reply in the Lok Sabha today.
